Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
Technical Analyst, Saxo Bank
Tuesday morning Hang Seng tested 2016 and 2012 lows at around 18,250. A bounce from here should be expected and we can see the future/HSI 50 cfd is trading higher this evening (European time zone) . A bounce to around the 0.382 Fibonacci retracement at around 20,800 is not unlikely before selling pressure could resume.
However, a Daily close below today’s low could fuel another sell off taking Hang Seng down to 16,170.